The company behind the Cardano blockchain is seeking to reduce its funding dependency on the project's community treasury. Input Output has submitted nine proposals for a total of $46.8 million, focusing on scaling and expanding into Bitcoin DeFi.
This reduced funding request is part of a plan to phase out dependency on community funds and transition to self-sustainability. The proposals include a consensus upgrade called Leios, which aims to increase transaction processing capacity, and a system called Pogun, which enables Bitcoin-based decentralized finance on Cardano. Voting on the proposals will take place from Tuesday to May 24, with roughly 1,000 elected delegates representing ADA holders making the decisions.